Mubadala Reaches $6.2 Billion Deal for Clear Channel Outdoor - Bloomberg
Clear Channel Outdoor Holdings Inc. agreed to be acquired by investors led by Mubadala Capital in an all-cash transaction that values the billboard company at $6.2 billion, including debt.
Mubadala Capital and its partners will pay $2.43 a share for Clear Channel, according to a statement. That’s an 11% premium over the company’s closing price of $2.19 Monday in New York. The shares rose 7.8% after the close of regular trading.
Clear Channel shares have gained 61% in the past year, giving the San Antonio-based company a market value of about $1.1 billion. The company has $5.39 billion in debt, according to data compiled by Bloomberg.
The transaction is expected to close by the end of the third quarter, according to the statement. Under the terms of the agreement, Clear Channel will have a 45-day “go-shop” period in which it can solicit competing offers.
Bloomberg News reported in October that Mubadala Capital, the asset management arm of Abu Dhabi sovereign wealth fund Mubadala Investment Co., was exploring an acquisition of Clear Channel.
Clear Channel has been under pressure to sell itself from activist investor Anson Funds Management, which said an acquisition of the company would be a generational opportunity to secure scarce, high quality media assets.
“We congratulate the board on taking this critical step towards value maximization and look forward to watching the go-shop process unfold,” Sagar Gupta, portfolio manager and head of active engagement at Anson, said in an emailed statement.
For Mubadala, the deal is the latest sign of its global ambitions. The fund has a sprawling portfolio but hasn’t been a major player in US media investments.
Last year, Mubadala Capital sold a minority stake in itself to TWG Global, an investment firm led by Guggenheim Partners founder Mark Walter and financier Thomas Tull.
Wade Davis, a media and technology veteran who partnered with Mubadala Capital and TWG on the Clear Channel transaction, is expected to join the advertising company’s board as executive chairman.
Equity financing will be provided by Mubadala Capital in partnership with TWG, according to Monday’s statement. Funds managed by Apollo Global Management Inc. have committed to invest preferred equity in the transaction. Debt financing has been committed by a group led by JPMorgan Chase & Co. and Apollo funds.
Tuesday, 10 February 2026
Most Gulf markets gain on earnings | Reuters
Most Gulf markets gain on earnings | Reuters
Most Gulf stock markets bounced back from early losses to close higher on Tuesday helped by corporate earnings announcements although weak oil prices limited gains.
Oil prices - a catalyst for the Gulf's financial markets - edged down as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran.
Iran along with fellow OPEC members Saudi Arabia, the United Arab Emirates, Kuwait, and Iraq export most of their crude via the Strait, mainly to Asia.
Saudi Arabia's benchmark index (.TASI), opens new tab reversed early losses to close 0.2% higher, helped by a 2.6% rise petrochemical maker Saudi Basic Industries Corp (2010.SE), opens new tab.
Elsewhere, oil giant Saudi Aramco (2222.SE), opens new tab added 0.7%.
Performance across sectors was mixed. However, the outlook remains supported by solid fundamentals in the non-oil sector, strong long-term economic growth projections, and legislative changes that improve market access for foreign investors, said Daniel Takieddine Co-founder and CEO, Sky Links Capital Group.
"Additionally, market sentiment may soon be influenced by the upcoming announcement regarding the strategy revamp of the Public Investment Fund."
The kingdom's $925 billion Public Investment Fund (PIF) plans to announce a new five-year strategy this week, two people with direct knowledge of the matter said, in the biggest reset yet of Crown Prince Mohammed bin Salman's economic transformation plan.
Dubai's main share index (.DFMGI), opens new tab finished flat, following six consecutive sessions of gains, with Salik Co (SALIK.DU), opens new tab losing 2.5%, despite the toll operator reporting a rise in annual profit.
Elsewhere, Dubai Investments (DINV.DU), opens new tab retreated 2.1%, trimming part of the prior session's advance of 4.3% that followed a substantial increase in its annual profit.
In Abu Dhabi, the index (.FTFADGI), opens new tab added 0.2%, rising for a seventh consecutive session, helped by a 0.4% rise in Aldar Properties (ALDAR.AD), opens new tab. In the previous session, the developer jumped more than 5% after posting about 50% surge in fourth-quarter profit.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab gained 0.2%.
Most Gulf stock markets bounced back from early losses to close higher on Tuesday helped by corporate earnings announcements although weak oil prices limited gains.
Oil prices - a catalyst for the Gulf's financial markets - edged down as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran.
Iran along with fellow OPEC members Saudi Arabia, the United Arab Emirates, Kuwait, and Iraq export most of their crude via the Strait, mainly to Asia.
Saudi Arabia's benchmark index (.TASI), opens new tab reversed early losses to close 0.2% higher, helped by a 2.6% rise petrochemical maker Saudi Basic Industries Corp (2010.SE), opens new tab.
Elsewhere, oil giant Saudi Aramco (2222.SE), opens new tab added 0.7%.
Performance across sectors was mixed. However, the outlook remains supported by solid fundamentals in the non-oil sector, strong long-term economic growth projections, and legislative changes that improve market access for foreign investors, said Daniel Takieddine Co-founder and CEO, Sky Links Capital Group.
"Additionally, market sentiment may soon be influenced by the upcoming announcement regarding the strategy revamp of the Public Investment Fund."
The kingdom's $925 billion Public Investment Fund (PIF) plans to announce a new five-year strategy this week, two people with direct knowledge of the matter said, in the biggest reset yet of Crown Prince Mohammed bin Salman's economic transformation plan.
Dubai's main share index (.DFMGI), opens new tab finished flat, following six consecutive sessions of gains, with Salik Co (SALIK.DU), opens new tab losing 2.5%, despite the toll operator reporting a rise in annual profit.
Elsewhere, Dubai Investments (DINV.DU), opens new tab retreated 2.1%, trimming part of the prior session's advance of 4.3% that followed a substantial increase in its annual profit.
In Abu Dhabi, the index (.FTFADGI), opens new tab added 0.2%, rising for a seventh consecutive session, helped by a 0.4% rise in Aldar Properties (ALDAR.AD), opens new tab. In the previous session, the developer jumped more than 5% after posting about 50% surge in fourth-quarter profit.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab gained 0.2%.
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